Tuesday, February 3, 2015

Dedicated to the Ones You Love ...

In our home, Valentine’s Day is an important celebration.  Not so much for the sake of Valentine’s Day itself, but because it is my sweetheart’s birthday.  Have you thought about what you will give the ones you love for Valentine’s?  You could choose the typical flowers, perfume or cologne, a nice meal; but, what if you chose to get your affairs in order instead?  So often, we go through the busy-ness of life, and put off the really important tasks, like updating a will or double-checking beneficiaries on policies or checking how contractual arrangements are titled. 


This month, we will be talking about tasks necessary to protect and provide for the ones you love.  It can be the sweetest thing you can do for the loves of your life.  Let’s start with wills.  Do you have one?  If not, you should know the laws of intestate succession, which are the rules the state of Montana uses to distribute your property, if you haven’t created a will.  In the Montguide, Dying Without a Will in Montana: Who Receives Your Property, Marsha Goetting writes, “Although Montanan’s are quite conscientious about their property while they are alive, 70 percent of these same thoughtful people make no provisions for its management and distribution after their deaths.”  Even though the laws make sense for many people, they might not make sense for you.  If you’d like to use an interactive tool to see how your property would be distributed, visit www.montana.edu/dyingwithoutawill.


Just as an example, in my own situation, with a husband and two children between us, if I die, all goes to my spouse.  Nothing would go to my surviving parent, my mom.  Without a will, I would have to trust (and I do) that my husband would make good decisions regarding our finances, property and our children.  While our situation is fairly straight forward, there are numerous scenarios that exist in families. For instance, do you know if step children will be treated in the same way as biological children, if you die without a will?  If you have no children or no spouse, do you know what will happen to your property without a will?  If not, it is time to find out.  One thing we know for sure is that we all have an expiration date.  The only problem is that it isn’t marked on the outside of our cartons.  You might as well plan for it now, so your affairs are in order when it happens.  It is a great thing to do this month for the people you love  


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